Teacher Retirement System of Texas boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 425,650 shares of the manufacturing equipment provider’s stock after buying an additional 88,771 shares during the quarter. Teacher Retirement System of Texas’ holdings in Applied Materials were worth $25,982,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Applied Materials in the 4th quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new position in Applied Materials in the third quarter valued at approximately $29,000. Cedar Wealth Management LLC bought a new position in Applied Materials in the fourth quarter valued at approximately $34,000. Horan Capital Advisors LLC. bought a new position in Applied Materials in the third quarter valued at approximately $39,000. Finally, Investors Research Corp grew its stake in Applied Materials by 54.0% in the third quarter. Investors Research Corp now owns 844 shares of the manufacturing equipment provider’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. 79.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on AMAT. B. Riley raised their price target on Applied Materials from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp raised their price target on Applied Materials from $70.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank upgraded Applied Materials from a “hold” rating to a “buy” rating and raised their price target for the company from $60.00 to $72.00 in a research note on Sunday, February 2nd. Susquehanna Bancshares restated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Applied Materials in a research note on Friday, November 15th. Finally, Zacks Investment Research downgraded Applied Materials from a “strong-buy” rating to a “hold” rating and set a $66.00 price target for the company. in a research note on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average price target of $71.04.
Shares of NASDAQ AMAT traded down $0.75 during midday trading on Friday, hitting $66.62. 5,610,124 shares of the company’s stock were exchanged, compared to its average volume of 7,004,624. The company has a quick ratio of 1.51, a current ratio of 2.30 and a debt-to-equity ratio of 0.57. Applied Materials, Inc. has a 12 month low of $36.80 and a 12 month high of $65.68. The company’s 50 day moving average price is $61.78 and its 200 day moving average price is $55.12. The firm has a market capitalization of $57.80 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.01 and a beta of 1.64.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, February 12th. The manufacturing equipment provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 3.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.84 annualized dividend and a dividend yield of 1.26%. Applied Materials’s dividend payout ratio is currently 27.63%.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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